Ruichang International Holdings Limited reported 2025 revenue of RMB501.96 million, a 12.99% year-on-year increase. Growth was driven by higher sales of process burners and heat exchangers, which offset weaker demand for catalytic cracking equipment.

Gross profit edged up 3.60% to RMB148.13 million, but gross margin retreated to 29.5% from 32.2% amid a larger share of EPC-type projects and rising costs.

Net profit fell 55.24% to RMB4.62 million, reflecting higher selling (+30.28%) and administrative (+32.90%) expenses linked to overseas expansion and the Huangshan phosphorus-recycling project. Basic earnings per share declined to RMB0.010 (2024: RMB0.024).

Segment performance: • SRU & VOCs incineration equipment: revenue RMB182.74 million, +15.62% • Catalytic cracking equipment: revenue RMB155.32 million, –20.08% • Process burners: revenue RMB111.27 million, +72.29% • Heat exchangers: revenue RMB52.64 million, +94.16%

Operating cash remained solid with cash and bank balances of RMB116.83 million. Total borrowings rose to RMB194.20 million, lifting the gearing ratio to 51.7% (2024: 29.4%). Current ratio stayed unchanged at 1.8.

Capital commitments stood at RMB41.74 million, mainly for property and equipment. The workforce totaled 476 employees, with staff costs of RMB92.30 million.

The Board proposes a final dividend of RMB0.04 per share, identical to last year and subject to shareholder approval at the AGM on 22 May 2026, with expected payment on or around 31 July 2026.

Strategic priorities for 2026 include strengthening core petrochemical equipment, accelerating Middle East and Southeast Asia expansion, scaling skid-mounted EPC capabilities, and commercializing new-energy and circular-economy projects such as phosphorus resource recovery and cold-chain energy storage.